The actual number of New Shares, the issue price payable per New...

The actual number of New Shares, the issue price payable per New Share or ADS and the number of New Shares per ADS subscribed for under the Capital Raising is not known at the date of this Notice. The actual number of New Shares and the pricing will be determined by negotiations between the Company and the underwriters, with respect to the ADSs, and will be based, in part, on the prevailing market price of the Company’s ordinary shares on the ASX. Accordingly, the total number of New Shares to be issued may be no more than 138,000,000, in addition to any securities that the Company may issue under its placement capacity under ASX Listing Rules 7.1 and 7.1A. The Company will endeavour to achieve the most favourable terms commercially available for the NASDAQ listing with the pricing and final terms to be determined in consultation with the underwriters following conclusion of marketing activities and the effective date of the Registration Statement.

So, the current low SP is definitely part of the negotiations in determining the ADS price, but Craig & Niall will be doing all they can to convince IPO investors that at this AUD Market Cap they are " getting a bargain " and should pay more.

Time will tell.